I would like to introduce readers of Riskczar.com to the De-risk blog. Have a read at this post about Nassim Talib’s The Black Swan and poke around his blog for some other great posts.
In 2008, Nassim Nicholas Talib published a book called “The Black Swan”. A Black Swan is defined as being an event which has three characteristics; it is highly improbable, has massive impact and, in a strange way, appears almost inevitable after the event! Due no doubt to the timing of the book’s publication relative to world events, the term Black Swan has crept into business language. So how do we protect our businesses from Black Swans?